The €4 billion closing on 31 March 2026 is two events compressed into one. The first is the structural lockout of the licensed designer fragrance category for the next fifty years, in L'Oréal's favour. The second is the opening of wellness and longevity as the next capital allocation category in luxury. Mainstream coverage read neither.
The full report is available on request.
I write about luxury as a cultural and economic system: image, desire, pricing, and perceived value before the numbers. Coverage includes LVMH, Kering, Armani Group, Prada Group, Richemont and Moncler. Cited by Reuters on LVMH and aspirational pricing trust. Author of "AI Image Governance in Luxury Fashion" (SSRN, 2026). Trained as an architect, with an MBA in marketing, branding and growth. Based in Milan.
For editorial commissions and speaking: rafael@rafaelcarlesso.com
